First Trade Union Bank in Boston has featured competitive nationally available savings and CD rates in the past, but now its best offer is on a free checking account.

The bank will pay you up to $100 if you sign up for its Virtual Checking account by the end of the year. You’ll also earn a bit of interest if you keep more than $1,000 in the account.

You’ll need a $100 minimum deposit to open a Virtual Checking account.

If you enroll in online bill pay and make one payment by Jan. 31, 2012, the community bank will deposit $50 in your account. You can earn another $50 simply by having one direct deposit made to your account by Jan. 31.

While the first $999 you keep in the account earns you no interest, the account pays 0.25% APY on the entire balance if it’s greater than $1,000.

The free checking account also requires that you sign up for eStatements and a free debit card. Your first order of basic checks is free, and First Trade Union Bank will refund ATM fees up to $20 a month.

The bank (www.ftub.com) has three branches in Boston and two in New York, and caters to business, government and union clients, but anyone around the country can sign up online for its Virtual Checking account.

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FTUB rejected my application & blamed ChexSystems even though absolutely no negative activity exists.
My credit scores & reports are spotless and always have been.
Then they would not respond to my query for an explanation.
Avoid this bank.